Liberty targets huge growth in C&W talks

After spending the past decade consolidating the European cable industry, US billionaire John Malone is to do the same in Latin America.

His Liberty Global is in talks to buy Cable & Wireless Communications in a potential cash-and-stock deal that would expand its reach to the Caribbean and Panama.

A purchase could be announced in the next few weeks and Liberty Global may consider spinning off its Latin America unit in the future. Cable & Wireless is seeking more than $5.5bn (€4.8bn).